antlerradar
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Those big back seats weren't all bad.
Tariffs
- Thread starter Redmt
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Irishman
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I've tried to avoid watching MSNBC, CNN, and FOX NEWS for years now. Out of curiosity I wondered how FOX would be reporting on what happened in the Stock Market over the last two days - figuring that had to be the big news. I looked at the FOX "news" web page a few minutes ago. They had 10 news stories on their Breaking News web page - not one about the stock market crash. Apparently it's breaking news that George Clooney is not happy with someone on MSNBC, and apparently it's breaking news that Joe Biden was declining mentally - but no mention of what a disaster that Trump's Tariffs are causing. Fair and balanced??? I remember the good old days when it was just the major networks reporting the news, when they actually tried to report the actual news, and weren't just spinning you BS 24 hours a day.
Kinda wild how America is living in two different realities at the moment, huh?
ismith
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I just wish Elon would have made all the wind turbines and solar panels. Happy to see he cured climate change though.
406dn
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Yesterday, we made a Costco run, and they were busy, like always. We played the commodity market and purchased a decent amount of coffee beans. I don't see too much downside, with a decent upside.
Otherwise, any thread on any subject, takes on twists and turns, after ten pages of comments. So, your post is only the latest.
Maybe most can agree that after the tariff announcement, Trump owns it...whether good or bad. I think I know how he will play it, accepting any blame is not his strong suit.
longbow51
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Oh, you're correct for sure; that was not my implication, and I'm sorry if that's what you inferred. It was that Deming gave them a chance to embrace quality in both design and quality and they rejected it.
Redmt
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I thought it would be much more educational to see exactly how the tariff would effect real people. Most of us here are real people with a few exceptions. We all know how this all came about, and who done what. There's no sense doing the party bashing. Personally I have learned quite a bit about how it all works.
Bonasababy
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In the list of whats wrong in this country that and other "news" sources are near the very top. Orwell was prescient.
The Party told you to reject the evidence of your eyes and ears. It was their final, most essential command.
@grizzly_
I get my news from WSJ, Market Watch or I’ll scan the Drudge Report for headlines. I get around 3 industry economic reports a morning I scan too. I don’t watch any news.
I was surprised at the Foxnews headlines when I reviewed the site. I’m guessing CNN might be the same in the other direction.
My mother is a diehard Foxnews watcher. Any other news source is propaganda.
I asked her today if she’s been watching Foxnews this week. Yes she has. Do you know the stock market is crashing? No. She asked what happened…
I sent her a Market Watch article.
I get my news from WSJ, Market Watch or I’ll scan the Drudge Report for headlines. I get around 3 industry economic reports a morning I scan too. I don’t watch any news.
I was surprised at the Foxnews headlines when I reviewed the site. I’m guessing CNN might be the same in the other direction.
My mother is a diehard Foxnews watcher. Any other news source is propaganda.
I asked her today if she’s been watching Foxnews this week. Yes she has. Do you know the stock market is crashing? No. She asked what happened…
I sent her a Market Watch article.
Excluding your political rant in a thread that specifically requests political bs stay out of this thread, do you believe in three years your funds will exceed current market value?
If so, GREAT! Sounds as though your portfolio will gain some quality companies at good pricing!
If you think our economy is doomed, I have $500 waiting for your $250 investment... 200% increase!
It's free money.
morley.tyler
Well-known member
Yeah—I saw that when I re-read your note more fully, later. That's on me. Your point was well taken, but my reading comprehension and desire to be witty too quickly did a disservice to your nuanced note. Apologies.
morley.tyler
Well-known member
Plus, the Pacer was good for the Audience... America's first Big Screen.
I think it’s possible that you are my brother in law.
Bonasababy
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Good article in our regional newspaper today about how Trumps actions are actually stifling and shutting down US manufacturing.
Some excerpts:
“This chainsaw method, the rapid pace and the kind of the chaos of the unknowns, I think all manufacturers agree is just too much right now,” said Steve Kalina, chief executive of the 300-member Minnesota Precision Manufacturing Association.
One association member was so concerned about Trump’s escalating trade wars that he scrubbed plans to build a new factory. Other members are re-examining capital expenditures they had planned for 2025 and 2026.
Many of the small manufacturers in the association, Kalina said, tend to be conservative and applaud Trump’s intentions to erase trade imbalances and re-shore manufacturing to the U.S. “But I’d say the biggest concern right now is the just the unknown,” and how higher prices caused by the tariffs could inhibit spending and slow down production, Kalina said. “Even if there is a good outcome eventually, our manufacturers are asking, ‘How painful is it going to be to get there?’ ”
The manufacturers in the association run the gamut from medical device and aerospace industries to the auto and industrial sectors.
In response to Trump’s tariffs, Stellantis on Thursday paused production at its Canada and Mexico auto parts operations. The company also laid off 900 auto parts workers in Michigan and Indiana. Other layoffs like this are “going to start rolling through predominantly assembly plants,” even though many U.S. factories tried to plan ahead by preordering lots of inventory in anticipation of fresh U.S. trade tariffs, O’Neill said.
Costs for Tri-Construction, which employs 80 workers, started skyrocketing when a 25% import tax on all steel and aluminum took effect last month, said CEO Calvin Littlejohn. Last month, Littlejohn’s bill for a truckload of steel wall studs used in drywall construction increased 20%. Last week, he received a notice they were going up another 10%.
Other construction owners said they are paying much more for supplies ranging from electrical switch boxes to aluminum heating ducts. ”As distributors raise the price, they’re raising it on everybody,” Littlejohn said. “None of us are going to be able to dodge that.”
Some excerpts:
“This chainsaw method, the rapid pace and the kind of the chaos of the unknowns, I think all manufacturers agree is just too much right now,” said Steve Kalina, chief executive of the 300-member Minnesota Precision Manufacturing Association.
One association member was so concerned about Trump’s escalating trade wars that he scrubbed plans to build a new factory. Other members are re-examining capital expenditures they had planned for 2025 and 2026.
Many of the small manufacturers in the association, Kalina said, tend to be conservative and applaud Trump’s intentions to erase trade imbalances and re-shore manufacturing to the U.S. “But I’d say the biggest concern right now is the just the unknown,” and how higher prices caused by the tariffs could inhibit spending and slow down production, Kalina said. “Even if there is a good outcome eventually, our manufacturers are asking, ‘How painful is it going to be to get there?’ ”
The manufacturers in the association run the gamut from medical device and aerospace industries to the auto and industrial sectors.
In response to Trump’s tariffs, Stellantis on Thursday paused production at its Canada and Mexico auto parts operations. The company also laid off 900 auto parts workers in Michigan and Indiana. Other layoffs like this are “going to start rolling through predominantly assembly plants,” even though many U.S. factories tried to plan ahead by preordering lots of inventory in anticipation of fresh U.S. trade tariffs, O’Neill said.
Costs for Tri-Construction, which employs 80 workers, started skyrocketing when a 25% import tax on all steel and aluminum took effect last month, said CEO Calvin Littlejohn. Last month, Littlejohn’s bill for a truckload of steel wall studs used in drywall construction increased 20%. Last week, he received a notice they were going up another 10%.
Other construction owners said they are paying much more for supplies ranging from electrical switch boxes to aluminum heating ducts. ”As distributors raise the price, they’re raising it on everybody,” Littlejohn said. “None of us are going to be able to dodge that.”
jryoung
Well-known member
Currently in Mexico and as we've wandered in an out of places I've noticed many different products from American headquartered companies.
Likely many of the products sold here (NAFTA/USMCA aside) have a sales entity that operates on a buy/sell transfer pricing arrangement with distribution entity.
It got me thinking about the goal to return manufacturing back to the US.....and what happens if the world doesn't want to buy our US made product or maintain reciprocal tariffs that we can't sell it.
I'm fully on board with developing critical manufacturing here which is why I'm supporting if programs like the CHIPS Act and elements of the IRA. But what about so many other non-critical products that are critical for our US based companies.
I think if it like a basic restaurant that doesn't do take out, or Uber eats etc. These are places that are everyday staples that are losing out on sales because they are isolated....intentionally on their part in this example, but our companies losing out on global markets because of trade policies by leadership is another issue.
When I get back I'm spending a couple days with a buddy who is a Transfer Pricing partner at a Big 4 firm with a specialty in customs and duties. I'm looking forward to picking his brain.
Likely many of the products sold here (NAFTA/USMCA aside) have a sales entity that operates on a buy/sell transfer pricing arrangement with distribution entity.
It got me thinking about the goal to return manufacturing back to the US.....and what happens if the world doesn't want to buy our US made product or maintain reciprocal tariffs that we can't sell it.
I'm fully on board with developing critical manufacturing here which is why I'm supporting if programs like the CHIPS Act and elements of the IRA. But what about so many other non-critical products that are critical for our US based companies.
I think if it like a basic restaurant that doesn't do take out, or Uber eats etc. These are places that are everyday staples that are losing out on sales because they are isolated....intentionally on their part in this example, but our companies losing out on global markets because of trade policies by leadership is another issue.
When I get back I'm spending a couple days with a buddy who is a Transfer Pricing partner at a Big 4 firm with a specialty in customs and duties. I'm looking forward to picking his brain.
Would be a good read if you have the opportunity to summarize your conversation here.
jryoung
Well-known member
I will, his practice specialty in customs and duties was developed in 2018 with the first round of "tariff wars". Will be great to sit by a campfire and revisit the conversation and how they are looking at things now.
A partner I worked with on a few cases (also @ one of the Big 4) wrote a book on strategic pricing that I referred to a lot when I went back to 'Industry' in an omnichannel role. Not targeted specifically around Duties and related, but a good read on generally how products should and eventually will be priced to different customer groups.
Link to Paperback
Redmt
Well-known member
I was talking to a friend this morning that has a pretty good footprint in their business with 10-15 stores throughout the US. Their main suppliers are Taiwan and China. They run an average markup at 12%. He said that a 25% tariff isn't something they can absorb. He's hoping that the manufacturers will absorb some of the tariff but the rest will fall directly on their customers. Their 12% markup keeps the doors open and 100+ employees on payroll. He also said that they have to have 50m or better in retail sales to realize any measurable profit.
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